本文關(guān)鍵詞：基于EVA的創(chuàng)業(yè)板醫(yī)藥企業(yè)經(jīng)營績效研究　出處：《華中科技大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 經(jīng)營績效 創(chuàng)新能力 股權(quán)集中度

【摘要】：經(jīng)營績效是公司優(yōu)化配置內(nèi)外部資源的最終結(jié)果，主要反映企業(yè)經(jīng)營的好壞。經(jīng)濟(jì)增加值（EVA）評價(jià)的經(jīng)營績效考慮了企業(yè)的全部資本成本的機(jī)會(huì)成本，本質(zhì)上是經(jīng)濟(jì)利潤。EVA指標(biāo)衡量的企業(yè)經(jīng)營績效更準(zhǔn)確更有效。我國創(chuàng)業(yè)板醫(yī)藥行業(yè)目前持續(xù)領(lǐng)先創(chuàng)業(yè)板。本文基于EVA理論評價(jià)創(chuàng)業(yè)板醫(yī)藥類企業(yè)的經(jīng)營績效并研究企業(yè)盈利能力、創(chuàng)新能力、資本結(jié)構(gòu)、公司規(guī)模、公司治理結(jié)構(gòu)與其的相關(guān)關(guān)系。 本文以2009-2012年創(chuàng)業(yè)板醫(yī)藥類30家上市企業(yè)為研究對象，共選取120個(gè)觀測值，利用EVIEWS統(tǒng)計(jì)分析軟件進(jìn)行實(shí)證分析。在考慮全部資本的機(jī)會(huì)成本后利用EVA理論計(jì)算企業(yè)的EVA即經(jīng)營績效。在企業(yè)經(jīng)營績效EVA的基礎(chǔ)上，本文將影響企業(yè)經(jīng)營績效的盈利能力、創(chuàng)新能力、資本結(jié)構(gòu)、公司規(guī)模和公司治理結(jié)構(gòu)細(xì)分為銷售凈利率、資產(chǎn)報(bào)酬率、研究開發(fā)費(fèi)用投入占營業(yè)收入比、研發(fā)技術(shù)人員占總員工人數(shù)比、發(fā)明專利、資產(chǎn)負(fù)債率、董事會(huì)規(guī)模、第一大股東持股比例、前五大股東持股比例之和11個(gè)指標(biāo)。根據(jù)搜集整理的數(shù)據(jù)對12個(gè)變量回歸并分析，，研究5大影響因素11個(gè)指標(biāo)與企業(yè)經(jīng)營績效之間的關(guān)系。研究發(fā)現(xiàn)企業(yè)的盈利能力、創(chuàng)新能力、資產(chǎn)負(fù)債率、公司規(guī)模、董事會(huì)規(guī)模與企業(yè)經(jīng)營績效正相關(guān)，其中，創(chuàng)新能力中的發(fā)明專利對企業(yè)經(jīng)營績效的解釋能力強(qiáng)于另兩項(xiàng)指標(biāo)；股權(quán)集中度與企業(yè)經(jīng)營績效負(fù)相關(guān)，需關(guān)注創(chuàng)業(yè)板醫(yī)藥類企業(yè)股權(quán)過度集中現(xiàn)象。
[Abstract]:Business performance is the final result of the optimal allocation of internal and external resources, mainly reflects the good or bad of the business operation. Economic value added (EVA) evaluation of operating performance takes into account the opportunity cost of the total capital cost of the enterprise. In essence, it is more accurate and effective to measure the business performance of enterprises with the economic profit. Eva index. The gem pharmaceutical industry in our country continues to lead the gem at present. This paper evaluates the gem pharmaceutical enterprises based on EVA theory. Camp performance and study the profitability of the enterprise. Innovation ability, capital structure, corporate size, corporate governance structure and its correlation. In this paper, a total of 120 observed values were selected from 30 listed companies in the gem from 2009 to 2012. Using EVIEWS statistical analysis software for empirical analysis. After considering the opportunity cost of all capital, using the EVA theory to calculate the enterprise's EVA that is the operating performance. On the basis of the enterprise's business performance EVA. In this paper, the profitability, innovation ability, capital structure, corporate size and corporate governance structure that affect the business performance are subdivided into net interest rate on sales, return on assets, investment in R & D expenses as a proportion of operating income. The proportion of R & D technicians to the total number of employees, invention patents, asset-liability ratio, board size, the proportion of the largest shareholders. According to the data collected and collated, 12 variables are regressed and analyzed. The study found that the profitability, innovation ability, asset-liability ratio, company size, board size and business performance of enterprises are positively related. Among them, the invention patent in the innovation ability is stronger than the other two indexes in explaining the business performance of the enterprise; There is a negative correlation between ownership concentration and business performance, so it is necessary to pay attention to the phenomenon of excessive concentration of equity in pharmaceutical enterprises of gem.
【學(xué)位授予單位】：華中科技大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F275;F426.72

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